Kamaridis Group: Turnover increase by 64.57% to 109.2 million – EBITDA to 19.65 million in 2021

In the context of the significant recovery of economic activity, which occurred in 2021, Kamaridis GlobalWire, as it states in its announcement, recorded a significant increase in turnover and profitability, both at parent and group level.

In particular, as mentioned “the turnover of both the company (increase 51.03%) and the group (increase 64.57%) showed a significant increase, while as a result there was an increase in pre-tax profits for the company 104.55% and for The group’s EBITDA amounted to € 16.537 million for the company and € 19.650 million for the group, respectively. the cost of supplying raw materials. ”

Specifically, the consolidated turnover of the KAMARIDIS Group in 2021 amounted to 109.2 million, from 66.4 million euros in 2020, ie increased by 64.57%, largely reflecting the increase in the average selling price of steel products In addition, earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 19.65 million from 9.41 million in 2020, an increase of 108.8%. levels of the company’s history, reaching 17.35 million from 7.19 million in 2020.

At company level, the turnover of Kamaridi Global Wire SA in 2021 amounted to 98.85 million from 65.45 million, showing an increase of 51%, with the results before taxes, interest and depreciation (EBITDA) amounting to 16 , 52 million, from 9.33 million in 2020, while the pre-tax results showed a profit of 15.13 million from 7.39 million in 2020. Corresponding EBITDA in 2019 was at 6,288 million euros, in 2018 5.47 million and in 2017 6.11 million.

Regarding the Bulgarian subsidiary, EUROPAN AD showed an increase in its turnover in euros of 10.34 million compared to 0.90 million, and an increase in pre-tax results to 2.19 million in 2021 from 455 thousand euros in the previous year. use. The improvement of the results is due on the one hand to the increase of the turnover and on the other hand to the improvement of the gross profit percentage in relation to the previous year.

Regarding the activities of the year 2021, among others, the construction of new industrial – storage facilities with a total area of ​​8,585 m2 was completed and within 2022 it is expected to complete investments in mechanical equipment, within its existing facilities, amounting to 8 million euros.

Finally, the acquisition of building installations and state-of-the-art mechanical piping equipment for the production of hollow beams, construction pipes and stretchers was completed (production capacity 80,000 tons / year). 80% of the production is destined for Northern Europe with the aim of doubling the group’s exports over the next two years.
Bank lending amounted to 7.532 million euros compared to 6.684 million euros in 2020, an increase of 12.68%. Against this loan, the company has cash and checks receivable amounting to 21.783 million euros.

Goals and Prospects

For the last five years the company has been on a growth trajectory, increasing year by year its sales volume, its capital adequacy and its liquidity. Thus, the company has full capacity to take advantage of favorable conditions but also enhanced resilience to any turbulence.

The Group, after the investment of the subsidiary in Bulgaria (production of stone wool and polyurethane panels), remaining faithful to the principles of sustainable development, continues its investments, directly and indirectly, in Renewable Energy Sources:

– Production of metallic elements for photovoltaic park bases (production capacity of bases 1000 MW / year)

– Portfolio of five (5) Wind Power Plants (ASPIE) with a total capacity of 120.3 MW and an estimated budget of 121.28 million euros which has been designated as a Strategic Investment under the Government Gazette number 285 B ‘/ 27.01.2021 continuation of the relevant approval and Integration Decision by the D.E.S.E.

– Portfolio of three (3) photovoltaic power plants with a total capacity of 30 MW and an estimated budget of 16.50 million euros.
– Completion of 2 MW of photovoltaic Net-Metering on roofs of the industrial facilities of the group.

However, the Russian invasion of Ukraine, triggering the explosion of prices in energy, metals and food, but also intensifying geopolitical instability and global uncertainty, puts the continuation of growth in doubt, despite the expected start of disbursements by European Recovery and Resilience Mechanism (RRF) and the new NSRF.

Assuming that the general geopolitical situation will not be further aggravated, and its financial consequences will not intensify, the Group is expected, in 2022, to continue its development course.